SBI selling Sunshine; locals snap up

Friday, 14 July 2023 02:49 - - {{hitsCtrl.values.hits}}

Japan’s SBI VEN Holdings Ltd., is seen selling its holding in diversified blue chip Sunshine Holdings this week.

Sunshine yesterday saw 8 million of its shares traded for Rs. 402 million. It included a crossing of 0.6 million shares at Rs. 50 each. On Tuesday Sunshine saw 7.1 million of its shares traded for Rs. 358.6 million topping the turnover.

Yesterday Sunshine saw net foreign selling of Rs. 261 million and on Tuesday it amounted to Rs. 214 million.

As at 31 March 2023, SBI held 13.7 million shares or 2.8% stake. Sources speculated buyers included Lynear Wealth, A. Jafferjee and existing shareholder Perera and Sons. Lamurep Investments holds 55% of Sunshine Holdings followed by Akba Brothers 10%.

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